Claim
Plain English Definition: A request made to an insurance company for payment of a covered loss.
What Claim really means for someone with an insurance policy
A claim is a formal request submitted to an insurance company asking for payment based on the terms of the policy.
Claim Real World Examples
- Filing a health insurance claim after a hospital visit.
- Submitting a car insurance claim after an accident.
- Making a home insurance claim for fire damage repairs.